Pidilite Industries reports 20.2pct sales growth, 28.9pct EBITDA growth

Pidilite Industries Limited, a manufacturer of adhesives, sealants and construction chemicals on Wednesday announced its financial results for the quarter ended December 31, 2017.

On a comparable basis, net sales (Rs 1,366 Cr) grew by 20.2 percent over the same quarter last year with underlying volume and mix growth at 22 percent. This was driven by 23 percent growth in sales volume and mix of consumer and bazaar products and 18 percent growth in sales volume and mix of industrial products.

Meanwhile, EBITDA, before non-operating income, is higher by 28.9 percent over the same quarter last year, and profit after tax in current quarter is Rs 239 Cr increased by 17 percent over same quarter in the last year.

On a comparable basis, net sales at Rs 1,533 Cr grew by 17.3 % over the same quarter last year (excluding the sales of Cyclo division of Pidilite USA Inc., which was sold by Pidilite USA in June, 2017). EBITDA, before non-operating income, stood at Rs 372 Cr for the quarter and grew by 28percent over same quarter last year.

Furthermore, profit after tax in current quarter is Rs 239 Cr increased by 18percent over same quarter in the last year.

"In a steadily improving economic environment, we have delivered strong overall performance. This quarter saw robust, broad based volume and mix growth across our categories. While there are signs of commodity cost inflation, we remain committed to driving profitable volume growth," said Bharat Puri, Managing Director, Pidilite Industries Ltd.